126 40th Street, Newport Beach, CA 92663
Superior 100 Block location on 40th St! Highly sought-after residential income property just steps to the surf and sand in West Newport on Balboa Peninsula! Welcome to a 3 bedroom 1 bathroom upper unit and a 2 bedroom 1 bathroom lower unit with an additional exterior bathroom and shower. Oversized 2 car garage with shared laundry with extra space for additional parking behind the garage. Current active short term lodging permit with the city, this property will allow you to continue building your vacation rental business and have immediate cash flow. Currently generating approximately $150,000 in gross rents. This property sits on an estimated 25'x 95' - 2,375sqft lot. Great opportunity for an immediate sand close turn-key vacation rental or the long term vision of new construction in a prime location! Restaurants, cafes, grocery, Lido Village and so much more all within walking distance or a short bike ride. Welcome to 126 40th St, seconds to the beach, close to the boardwalk, hop on a bike ride to the Newport Pier and enjoy everything West Newport has to offer!